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How much money can a LIC agent earn?
The statistical data suggest the average income of an LIC agent to be Rs. 39,200/- to Rs. 67,000/- per month. The figure varies depending upon the number of policies an agent sells and amount of premiums paid by the policy holders.
Who is the highest paid LIC agent?
But Parekh managed to find work under a development officer at 18 and has never had to look back since then. He sells around 1,000 policies a year, the worth of a policy being Rs 2 lakh on an average, and manages to generate a premium of Rs 200 crore for the corporation — the highest generated by any agent in India.
What is the salary of LIC agent in India?
LIC AGENT Salaries
| Job Title | Salary |
|---|---|
| Life Insurance Corporation of India LIC AGENT salaries – 5 salaries reported | ₹20,180/mo |
| Life Insurance Corporation of India LIC AGENT salaries – 3 salaries reported | ₹13,436/mo |
| Direct Agents LIC AGENT salaries – 2 salaries reported | ₹15,024/mo |
Do life insurance agents really make good money?
Life insurance agents can make good money, because their salary is often largely based on commission, even when an employer pays them a base salary. If you are an independent insurance agent, commission rates become even more important because you will only be paid based on commission.
Is it worth to become LIC agent?
2] Attractive Remuneration: LIC offers one of the best remuneration systems in the industry that not only takes care of your current earnings, but also guarantees an earning for the future. As LIC agent, you can set your own income targets with a potential to earn as much as you want for the rest of your life.
Who is the richest LIC agent in India?
Bharath Parekh. Parekh, who missed out on watching matinee shows and playing cricket during his youth, is now a millionaire who can afford most luxuries of life. As an agent, his annual income is over Rs 4 crore, around five times more than the Rs 87 lakhs that LIC chairman DK Mehrotra took home last year.
Can LIC agent become rich?
Career as a LIC agent is considered one of the highest paid profession in the country. Top performers in LIC are earning nearly 3 to 4 Crores per year. LIC agent can earn unlimited since there is no specified salary. They get a commission from the policy they sell and they can earn more than their capacity.
Who is the biggest LIC agent in India?
The top 50 Agents on NOP basis
| Rank | Agent Code | Agent Name |
|---|---|---|
| 1 | 0029673J | J SREENIVASULU |
| 2 | 0162673J | PUTTASANDEEP GOUD |
| 3 | 2399543 | SMT RANJEETA KUMARI |
| 4 | 4224460 | RASHMI PRABHA PANI |
Is LIC agent an employee?
Regulation 29(2) proviso provides that no employee of the Corporation shall be permitted to act as an insurance agent and no employee shall allow any member of his family to act as an insurance agent.
Why do insurance agents earn so much?
Because the amount of money insurance agents earn is comprised largely of commissions and bonuses, the number of sales an insurance agent makes is the biggest factor that contributes to the disparity between the highest and lowest paid of insurance agents.
Is selling insurance a good career opportunity?
Due to the low barriers of entry, insurance sales is a good career choice for people who are transitioning into a new career following a major life change. A college degree is preferred but is not required in many insurance firms. Unlike many other finance-related positions, prior experience is also not required.
What is the salary of LIC insurance agent?
Average LIC Agent Salary is Rs. 39,200 – 67,000/-per month. Basically LIC Agent Salary or earning depends on commission paid by LIC, as there are more number of premium paid by clients people more commission will be provided to LIC Insurance Agent Know, How much LIC Insurance Agent Salary?
How much Commission do LIC agents get on commission?
LIC offers 25\% to 35\% commission on the policy premium for the first year, then 7.5\% for 2nd & 3rd Year + 5\% till the policy maturity. 2. How much can I earn as a LIC Agent?
How can I become an LIC agent?
To become a LIC agent all you need is the educational qualification of being 10th pass and you should be above 18 years of age if you meet the required criteria you can just go and contact the development officer at the nearest the LIC branch.
How much Commission do LIC Jeevan Labh agents get on LIC policies?
A agent gets 25\% commission on LIC Jeevan Labh policy. This commission is for the first premium and then 2nd and 3rd year the commission is 7.5\% and for 4th year onward till whenever the policy is in force the agents gets 5\% commissions on premiums.